The food industry has grown enormously in recent years. Since more and more food startups are being founded and the launch requires a few points that need to be considered, you will find 5 helpful tips for launching a food startup in this article.
The be-all and end-all for the food startup launch
- Good research
- the right team
- Business plan and marketing
- Plan ahead
Thorough market research
The be-all and end-all of good start-up preparation is thorough market research, and not just when launching a food start-up. All information related to the relevant aspects and trends of this industry should be analyzed and examined. Likewise, all possible advantages, disadvantages, upward and downward curves of the foundation must be included in the research.
Market analysis can also be used to determine what the masses are offering and how to stand out from them. Likewise, all safety standards, legal regulations and permits should be researched in order to avoid possible obstacles and delays. In the case of a young, very small food start-up, it can also happen that the strict control standards are difficult to comply with. Accordingly, one should obtain sufficient information about which precautions should be taken and how the possible obstacles can be overcome. The following questions can therefore be particularly helpful when researching the market:
- What is the supply and demand of the respective (specific) industry?
- What sets you apart from your competition and how do you stand out from the crowd?
- What are the current trends in the respective segment in the food industry?
- What obstacles does a small brand have to face in the big market?
After the research, the respective values of the startup should be worked out. As already mentioned, it can easily happen with small startups that the brand goes under in the market due to the mass of offers. The values make you stand out from the crowd, it is not only about quality, but also about the individual values of the company. A psychological factor in attracting customers is that people generally respond to a feeling rather than just a physical product. Accordingly, care should be taken here to subtly sell the customer not just a product, but a feeling.
Specifically in the food industry, there are enough environmental and social factors that you can use to pick up customers. Since the corporate culture and values are always a reflection of the founders and the team, ask yourself what is important to you personally in your startup and work out a specific vision.
Ideally, the corresponding “sold” feeling should give customers the feeling of having done something good.
The right team
A startup fundamentally stands for low hierarchies and is driven by the work of the team. So when the chemistry isn’t right, unnecessary obstacles arise that can easily be avoided. Accordingly, it should be ensured that the chemistry between you and the respective partners, customers, suppliers and colleagues is right, because one thing is certain: good employees and partners are essential and often prevent the foundation and work processes from being unnecessarily complicated.
Business plan and marketing
It should go without saying that a proper business plan based on thoroughly researched facts should be written. Here you can find out which points should generally be observed .
In addition, the right marketing is already half the battle. Professional support can be very helpful and protect you from lost time and money. Startups often take their marketing into their own hands because there is not yet a sufficient budget for professional marketing. A detailed concept should therefore be presented to potential investors so that they can also see when the respective investments are likely to be needed.
If a marketing agency is called in, it is always smart to find out about various offers and to compare them. Services and prices should offer good value for money. Also pay attention to the previous experiences of the agency. Ideally, they have already gained specific experience in the food industry. Small marketing agencies can also be called in here, as they often have the advantage of lower prices.
Forward-looking planning is one of the most important points when it comes to launching a food startup. This forward-looking planning also means that possible values are linked to financial and logistical factors.
For example, a helpful tip is to only partner and do business with companies that share your respective values. In addition, it is always an advantage to work with local suppliers, as this cooperation reduces transport costs and supports your own region at the same time.
Last but not least, it should also be mentioned that, despite the expected success, low sales are also taken into account, since a company is often only in the black after a certain period of time.